The USD/CAD pair ended at around 1.30 in April. The appreciation of the Canadian dollar was mainly due to stronger oil prices and resilient outlook of Canada’s economy. Moreover, the labor market further tightened in Apr…
The USD/CAD pair ended at around 1.30 in April. The appreciation of the Canadian dollar was mainly due to stronger oil prices and resilient outlook of Canada’s economy. Moreover, the labor market further tightened in April while retail sales posted stronger figures than market projections. The Bank of Canada showed that it continues to be upbeat regarding the domestic economic strength and kept the monetary policy on hold for the ninth straight month.
But Governor Polozwas mentioned that the Canadian dollar’s appreciation is a possible threat for non-resource exports. The currency has appreciated 12% since mid-January. The export growth of non-resource goods is essential in order to maintain economic stability. This indicates that the central bank is cautious about the CAD’s further appreciation. If oil prices continue to increase, the USD/CAD pair is expected to move lower towards 1.25 by the end of 2016, said Lloyds Bank in a research report.
Gold prices edged lower on Monday as stronger-than-expected U.S. nonfarm payrolls data dampened hopes for aggressive Federal Reserve rate cuts, bolstering the dollar. Spot gold slipped 0.1% to $2,686.32 an ounce, while F…
On-chain data shows BTC whales moved 10000 BTC from Crypto exchanges. This indicate accumulation of BTC by whales. Japanese public company Metaplanet buys another 1 billion yen worth of Bitcoin. According to Santiment, t…
Personal income increased by 0.2% month over month In August, which was less than the 0.4% market forecast and less than the 0.3% growth in July. For the third consecutive month, real personal disposable income increased…
